What Say You Now?

The bill is passed.
The bill is finally getting read by those who’s job it is to disseminate the news.

The bill, which will rescind a current tax break for companies currently providing prescription drug benefits to their employees is…….drum roll please…..going to either cost these companies by the amount of the tax, or it’s going to cost these companies by the amount of removing the prescription drug benefits minus the cost of the penalty.

Wow!! Who’d a thunk it?
Now check out this brilliant piece of deduction from the New York Times in an article with tons of quotes, stating the obvious:

At issue is a section of the law that eliminates a tax break available to companies that provide drug benefits to retirees as part of their insurance coverage. The tax change, expected to generate $4.5 billion of revenue over the next 10 years, will help offset the cost of providing coverage to the uninsured.

Yes, somehow, by eliminating a tax break the law will generate tons of money because, you know, businesses continue to operate the same whether there are taxes on certain behaviors or not.

Just remember though, “Under the new law, if you’re happy with your current coverage, you’ll be able to keep it!”

In a general analysis of the new law, Verizon said, “To avoid additional costs and regulations, employers may consider exiting the employer health market and send employees” to state-run insurance exchanges, where people can buy insurance.

A Caterpillar executive made a similar point in an e-mail message to colleagues, saying the tax changes could “drive many employers to just drop coverage for retirees altogether, and let the government foot the whole bill.”

I think it’s time: My thanks to Sanjai. Here is a graphic depiction of everything.
Take us to Candy Mountain Obama, take us to Candy Mountain!!